Spread Accounts definition

Spread Accounts means, with respect to any Securitization Transaction, the named "Spread Account", together with all other cash collateral accounts or other escrow or reserve accounts established and maintained by the trustee for the benefit of the Company, any of its Subsidiaries, certificate holders and/or the Credit Enhancer.

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Spread Accounts means the Series 2002-1 Spread Account and the Series 2003-2 Spread Account.

Spread Accounts. With respect to each trust set forth on Schedule 1.1 and all other trusts established in connection with a Permitted Securitization Transaction, the "spread account" into which funds in excess of the amount required to collateralize motor vehicle retail installment sales contract purchases made in connection with such Transaction are deposited. Such funds are available to be remitted to the Borrower over the life of such Transaction.

Examples of Spread Accounts in a sentence

The Collateral Agent hereby expressly waives any and all rights of setoff that the Collateral Agent may otherwise at any time have under applicable law with respect to any Spread Account and agrees that amounts in the Spread Accounts shall at all times be held and applied solely in accordance with the provisions hereof.
If the Collateral Agent changes the location of any Spread Account, it shall change the location of the other Spread Accounts, so that all Spread Accounts shall at all times be located at the same depository institution.
All Spread Accounts established under this Agreement from time to time shall be maintained at the same depository institution (which depository institution may be changed from time to time in accordance with this Agreement).
The Collateral Agent shall keep all Collateral and related documentation in its possession separate and apart from all other property that it is holding in its possession and from its own general assets and shall maintain accurate records pertaining to the Eligible Investments and Spread Accounts included in the Collateral in such a manner as shall enable the Collateral Agent and the Secured Parties to verify the accuracy of such record-keeping.
Upon such termination, all Excess Amounts and Recapture Amounts in the Subordination Spread Accounts and the Certificate Account shall be distributed first, to the extent of any previously contributed and not yet recovered Recapture Amounts, to the holders of Class B Certificates, and any remaining amounts to the Seller, and all such distributed amounts shall be released from the liens of this Agreement and the trusts created hereunder.
The Spread Accounts established under this Agreement may be maintained at one or more depository institutions (which depository institutions may be changed from time to time in accordance with this Agreement).
All investments in the Subordination Spread Accounts shall be made in the name of the Custodian or its nominee and all income and gain realized thereon shall be solely for the benefit of the Seller and shall be payable by the Custodian to the Seller in accordance with subparagraph (iv) below.
The Program Spread Account shall continuously be maintained at an institution at which one or more Spread Accounts are established hereunder.
In no event shall such fee be paid from the Subordination Spread Accounts.
Neither the Subordination Spread Accounts, the Excess Amounts nor the Recapture Amounts shall be part of the Trust.

More Definitions of Spread Accounts

Spread Accounts. The respective meanings specified in the Recitals.

Spread Accounts with respect to each Eligible Securitization Transaction, the named "Spread Account", together with all other cash collateral accounts or other escrow or reserve accounts established and maintained by the trustee for the benefit of certificate holders and/or the Credit Enhancer. Spread Account Trust(s): collectively and individually, the 1995-1 Spread Account Trust, the 1996-1 Spread Account Trust, 1996-2 Spread Account Trust, 1996-3 Spread Account Trust, 1996-4 Spread Account Trust, 1997-1 Spread Account Trust, 1997-2 Spread Account Trust, 1997-3 Spread Account Trust and the 1998-1 Spread Account Trust.

Spread Accounts is hereby replaced with the term "Spread Account" in each place it appears in the Agreement and the definition of "Spread Accounts" is hereby amended in its entirety to read as follows:

Spread Accounts. Each of (i) the Series 1997-1 Spread Account, as defined in the Spread Account Agreement and (ii) the Series 1998-1 Spread Account, as defined in the Spread Account Agreement. STRUCTURING AGENT: FCM, together with its respective successors and assigns.